So J&J Thinks it Can Dance
At CNBC we use -- among others -- a couple of primary business news wire services -- NewsEdge, part of Thomson, and Relegence, part of AOL.
It's part of my daily routine to check both of them for news on companies in my coverage universe by entering ticker symbols. That calls up a window of headlines gleaned from many, many sources with stories that contain copy that make reference to the particular company.
So, imagine my surprise when I saw this headline for the Fox show "So You Think You Can Dance" (of which I am a fan) when I opened up a window this morning on Johnson & Johnson :
From The Associated Press: "Johnson Victorious in 'Dance' Finale." I automatically assumed that it was a story about how JNJ must've bought some commercial time in the finale of the show that probably paid off for the company with high TV ratings. Wrong.
It turns out the last name of the newly-crowned winner of the show, referred to on-air only by her first name Sabra, is Johnson. So, presumably a computer bot placed it in the JNJ queue on the business news wires.
LOS ANGELES (AP) _ Sabra Johnson was named ''America's Favorite
Dancer'' and won the $250,000 first prize on Fox's hit talent show
''So You Think You Can Dance.''
''I can't take the smile off my face, and it's hurting so bad,''
the 20-year-old from Roy, Utah, told The Associated Press after
learning she won Thursday.
Four finalists had remained at the beginning of the finale: Neil
Haskell, Lacey Schwimmer, Danny Tidwell and Johnson. Johnson
emerged as the viewers' choice.
Show host Cat Deeley said a record-setting total of 16 million
viewers called in votes for their favorite contestants after
''She's only been dancing for four years, and that's got to be
inspirational for anybody out there watching this program and
thinking, 'Should I begin dancing?''' said Nigel Lythgoe, the
series' executive producer and one of its judges.
Next up for the top 10 dancers is a 50-city tour. But what
happens after that for America's Favorite Dancer?
''So I'm just hoping that now it kind of puts me where I want to
be with choreographers knowing me and maybe getting shows that I
wouldn't have otherwise gotten, because now people have seen what I
can do,'' Johnson said.
This was the third season for the Emmy-nominated show. Judges
narrowed the field to 20 after auditioning thousands of would-be
contestants in Chicago, Atlanta, New York and Los Angeles.
Much like ''American Idol,'' judges evaluated the dancers'
routines, then viewers called in votes for their favorites.
On the Net:
(Copyright 2007 by The Associated Press. All Rights Reserved.)
As far as I know, Sabra is not related to the Johnsons of Johnson & Johnson. But with her quarter-million dollar prize she might want to consider buying some stock in her namesake company.
In a research note to clients this morning, Goldman Sachs analyst Lawrence Keusch reiterates his Buy rating on the Dow component.
Because of the latest restrictions on use and reimbursement for anemia drugs including JNJ's Procrit, Keusch is dropping his sales estimates for the drug for 2008 from $1.67 billion to $1.42 billion and for 2009 from $1.58 billion to $1.45 billion. He estimates that every $100 million drop in sales of JNJ's anemia drugs wipes out two cents in earnings per share.
So, he's taking two pennies off of his '08 and '09 EPS forecasts. But he's not changing his rating on the stock or his price target of $75 because the company is cutting costs and "Importantly, we do not view these changes (in the government's anemia drug coverage guidelines) as material...." Goldman Sachs tangos with JNJ by banking it and making a market in the stock.
Questions? Comments? Pharma@cnbc.com